So if GM does not get traction and ends up going BK the news said they will liquidate.

Will the cars sitting all across the country be dumped for whatever they can get?

The report said the government would honor all warranty issues. Who would you take it to?

The initial plan to survive would include closing thousands of weak stores. The stores left would immediately lower prices 20-30% to move iron.

If this does not work liquidation would ensue.

They're not gonna liquidate, not totally at least. That's just scare tactics to try to get money from the government without the condition of going into Chapter 11 reorganization. As badly as GM is doing, creditors are going to prefer a serious restructuring to Chapter 7 liquidation. At least with a restructuring, there's an appreciable chance they'll get part of their investment in time. If GM totally liquidates, they're not going to get anything back, so there's no reason for creditors to opt for that.

GM and the Big 3 will eventually get the gov't money (hopefully in the form of a backstop for private financing) to do a major restructuring so they can renegotiate these labor contracts, close & consolidate superfluous dealerships (which most of them are), close old plants, get out from under these pension obligations, health benefits cut back, etc. After you get rid of most of that dead weight, GM might be a halfway decent company.

In the news today it said the Vauxhall (sub of GM) has offered it's workers a deal which amounts to 9 months layoff with 30% of pay. The UK car sales market is down 37% with Vauxhall's sales down 39%, as if to show which of the big two will survive this Ford's UK sales are down only 12%.

Chapter 11 usually doesn't work well with consumer heavy corporations. Consumers do not want to buy a failed product from a failed company with no idea where their warranty will lie.

If GM goes BK it will be under Chapter 7 but the strong brands will stay intact sold off to a private investor group (most likely from the middle east haha). Most likely Buick and Mercury will cease to exist (thank god).

The failure of American Cars is a combination of failed partners in the industry.

Primarily innovation is stale if not non-existent, and the major cause of this is old CEOs with 60s style thinking doing the same thing over and over expecting a different results. UAW is not innocent either, their Union President is stuck to the past in over protecting its members, thinking that the membership drives the industry and the market is stupid.

I feel its important for the industry reduce the no. of product lines and concentrate on the ones that are profitable or have a chance to success.
These are some cars I vote to keep, CTS, Corvettte and Mustang.

Until they learn to innovate and attract the young market, their future is dim and on the wrong track.

UAW President has to get off his high horse and realize they better give up more concession and take half pay than all together not see any pay at all.
HELLLLLLLOOOOO! this there anybody home?

but to let it totally fail and collapse in its own weight is not the way to go. Once given up it would be hard to recover or start it again. Then we would now even be more depended on foreign oil.

but to let it totally fail and collapse in its own weight is not the way to go. Once given up it would be hard to recover or start it again. Then we would now even be more depended on foreign oil

How does letting GM fail relate to dependence on foreign oil?

How does loaning money to a company known for making inferior products help our economy? Throwing money at the situation might be the initial thought, but if you think about it some more you will realize that GM will just need more money (RE: Volt, the "Savior") to function and will never return to profit with the current management.

I say let the big 3 go down. They have not helped the industry at all, if anything they have brought it to its knees.

The problem is everyone else in the world pays a fair price for fuel, until you start having to pay a high price for fuel in the States you won't get the next generation of vehicles that is needed, the car companies just keep slogging along, you have cheap cars and cheap fuel.

Once the States makes a move to make changes things will start to happen but until then the big 3 still have 1970 mind set.

Damn, the mustang still has a live axle because they stay its something that cannot be improved on, that's 1970's thinking. Just put a V8 in it and they will come! said the Lord.

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X5 F15 M50d White, 20"rims, Yellow Calipers, Ceramic Pads. Better off saying what it does not have and that's a B&O Audio System, otherwise all option boxes are ticked.

I say let the big 3 go down. They have not helped the industry at all, if anything they have brought it to its knees.

The problem is everyone else in the world pays a fair price for fuel, until you start having to pay a high price for fuel in the States you won't get the next generation of vehicles that is needed, the car companies just keep slogging along, you have cheap cars and cheap fuel.

Once the States makes a move to make changes things will start to happen but until then the big 3 still have 1970 mind set.

Damn, the mustang still has a live axle because they stay its something that cannot be improved on, that's 1970's thinking. Just put a V8 in it and they will come! said the Lord.

Pontiac is worthless and should close, the only car they should think about keeping is the G8.

What's worth keeping from GMC(hardly anything) should be moved and branded a Chevy and the rest of GMC should be closed.

The 2 or 3 cars worth saving from Buick should be moved to Cadillac to help broaden their lineup as their the only GM products worth buying.

The years of GM thinking they can make one car and use it across 3 different brands of cars are over. The Chevy Tahoe is the GMC Yukon which is the Caddy Escalade. It's redundant and done with more than a handful of vehicles and needs to stop.

We buy V8's as rarity here and not as DD's. 150 M3 verts will sold here over a 2 year period and the same for coupes. Our main car sales are 4 & 6 cylinders and a third of those are nearly all diesel.

My DD is a diesel X5, my daughter drives a e90 320 BMW diesel that uses 4.7ltr per hundred klm and the reason is we pay nearly $5 per gal now and fuel prices have dropped.

So we are doing our bit here for only 22mil people and with the car companies down over 50% in sales in Australia more people are looking for better economy cars and also our rego costs are determined by how many cylinder your engine has.

Don't you find it strange that the car industry will be forced to change not because of global warming or the price of fuel but due to the credit crisis! how ironic is that!

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X5 F15 M50d White, 20"rims, Yellow Calipers, Ceramic Pads. Better off saying what it does not have and that's a B&O Audio System, otherwise all option boxes are ticked.

Looking to buy a Yukon and visited a dealer Saturday. They are moving alot of vehicles right now with the "red tag" promotion..!! Maybe it's because the one I am looking has a sticker of 53k and the current offer from the dealer is 36!..Brand new 2008.